Outokumpu (OTCMKTS:OUTKY) Sees Large Drop in Short Interest

Outokumpu (OTCMKTS:OUTKY) was the recipient of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 2,175 shares, a decline of 80.5% from the July 30th total of 11,153 shares. Based on an average daily trading volume, of 3,555 shares, the short-interest ratio is presently 0.6 days. Approximately 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Several equities research analysts have commented on OUTKY shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Outokumpu in a research report on Wednesday, May 13th. Citigroup restated a “neutral” rating on shares of Outokumpu in a report on Wednesday, May 20th. Finally, Oddo Bhf raised Outokumpu to an “outperform” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Outokumpu Stock Performance

Shares of Outokumpu stock remained flat at $3.10 on Wednesday. The company has a market capitalization of $2.93 billion, a P/E ratio of -31.00 and a beta of 0.72. The company has a current ratio of 1.56, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. Outokumpu has a one year low of $1.89 and a one year high of $3.66. The firm’s 50-day moving average is $3.10 and its 200 day moving average is $3.12.

Outokumpu (OTCMKTS:OUTKY) last released its earnings results on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.97 billion. Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.39%. As a group, sell-side analysts expect that Outokumpu will post 0.12 EPS for the current fiscal year.

About Outokumpu

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.